US stocks rally and recover most of last week's losses as oil prices swing lower

NEW YORK (AP) — The U.S. stock market rallied Monday and recovered most of its big loss from last week as oil prices swung lower. The strength came even though Nvidia, one of Wall Street’s most influential stocks, sank.

The S&P 500 jumped 2.3% for a second straight gain following a wipeout on worries that Democratic victories in the U.S. midterm elections could lead to a slowdown in the construction of AI data centers. The best day for the index since April has it sitting just 3.4% below its all-time high set last month.